The UAE Golden Visa is an innovative long-term residency program that has gained widespread attention for its ability to provide foreign nationals with a 10-year renewable residency in the UAE. One of the most accessible pathways to acquiring this prestigious visa is by purchasing property in the UAE.
If you’re wondering how to get a dubai Golden Visa by buying property, you’re in the right place. Stay tuned with us as we explore everything you need to know, from eligibility criteria to step-by-step instructions on how to apply.
What Is The UAE Golden Visa?
The UAE Golden Visa is a long-term residence permit that allows foreign nationals to live in the UAE for up to ten years, with the option for renewal. It’s designed for investors, entrepreneurs, specialized talents, and others who contribute to the UAE’s economy and society.
Buying property is one of the easiest ways to secure this visa. By investing in real estate worth at least AED 2 million, you can qualify for this visa, which offers various perks like the ability to sponsor family members, access to superior healthcare and education, and more.
Key Benefits Of The UAE Golden Visa – Why You Should Apply Now!
Before we explore how to get the UAE Golden Visa by buying property, let’s quickly go over the key benefits of this residency:
- Long-Term Residency: A 10-year renewable visa allows you to live in the UAE for a decade, a substantial period compared to traditional residency permits.
- Family Sponsorship: As a Golden Visa holder, you can sponsor your spouse, children, and parents.
- Freedom to Work: The visa gives you the flexibility to live, work, and invest in the UAE without the need for a national sponsor.
- Access to Healthcare and Education: Golden Visa holders can enjoy access to some of the best healthcare and education facilities in the UAE.
- Security and Stability: A long-term visa ensures peace of mind, offering stability and security for individuals and their families.
- Property Ownership: With a Golden Visa, you have the right to own property in freehold areas within the UAE, which might otherwise be restricted for non-citizens.
Key Requirements For Securing A UAE Golden Visa By Buying Property – Don’t Miss Out!
To qualify for the UAE Golden Visa by buying property, certain investment criteria need to be met. Here’s what you should know:
Minimum Investment:
To qualify, you must invest at least AED 2 million in property, which can be a single property or multiple properties. The property value must be verified by the Dubai Land Department (DLD) or the relevant authority in the emirate.
Property Type:
Eligible properties can include:
- Residential Properties: Villas, apartments, or houses in freehold areas.
- Commercial Properties: Retail spaces, office buildings, or mixed-use properties.
- Off-Plan Properties: Properties under construction are also eligible if 50% of the property value has been paid and 50% of the construction is complete.
Property Valuation and Verification:
You will need to obtain a valuation certificate from the Dubai Land Department (DLD) or a licensed office. This document confirms that the property value meets the AED 2 million threshold. It is essential for the visa application process.
Joint Ownership:
If purchasing jointly, both parties must meet the AED 2 million threshold. For example, if buying a AED 4 million property, each partner’s share must be worth at least AED 2 million. Equal ownership between spouses is essential to qualify.
Mortgaged Property:
If the property is mortgaged, a bank certificate is required to show that at least AED 2 million has been paid. You’ll also need to provide evidence of the mortgage payments. The property must have at least 50% of the value paid off to qualify.
Holding the Property:
To maintain eligibility for the Golden Visa, the property must be held for at least two years. This ensures that the investment is genuine and not a temporary measure for visa purposes.
How To Get UAE Golden Visa by Buying Property? – A Step-By-Step Guide!
Now that you’re familiar with the requirements, let’s walk through the process of obtaining the UAE Golden Visa through property investment:
Purchase a Qualifying Property:
Buy a property worth at least AED 2 million in a freehold area where foreigners can legally own property. Ensure you have all necessary documents, including the purchase agreement and proof of payment, to verify the property’s value.
Get a Property Ownership Approval Letter:
Obtain an official letter from the Dubai Land Department (DLD) or relevant property authority confirming your ownership and the property’s value. This letter is essential to prove your eligibility when applying for the Golden Visa.
Submit Your Golden Visa Application:
Submit your application online via the ICP (Federal Authority for Identity and Citizenship) website or other relevant local authorities like the Abu Dhabi Residents Office. Ensure all details are accurate to avoid delays in processing.
Provide Supporting Documents:
Submit necessary documents such as your passport, property documents (title deed, proof of payment), valuation certificate, medical certificate, and health insurance. These documents will support your application and demonstrate your eligibility.
Medical and Biometrics:
Once your documents are submitted, you will need to undergo a medical fitness test and complete your Emirates ID registration. This involves providing biometric data such as fingerprints.
Wait for Approval:
After submitting your application, the authorities will process your documents and verify your eligibility. If everything is in order, you will receive your UAE Golden Visa, which is valid for 10 years.
Common Misconceptions About The UAE Golden Visa By Property – Don’t Be Misled!
Many think the UAE Golden Visa can only be obtained by buying property in Dubai, but you can invest in other emirates too. Some believe the property must be fully paid for, but mortgaged properties qualify if 50% is paid.
Another misconception is that the Golden Visa isn’t renewable, but it’s valid for 10 years and can be extended. Clearing up these myths helps simplify the process, making it easier to navigate and qualify for the Golden Visa through property investment.
FAQs:
Can I buy an off-plan property to qualify for the UAE Golden Visa?
Yes, you can qualify with an off-plan property as long as 50% of the property’s value is paid and the project is 50% complete. Ensure that the property meets the valuation requirements before applying.
Do I need to pay for the property in full to qualify?
No, you don’t need to pay for the property up front. Mortgaged properties can also qualify as long as you have paid at least 50% of the property’s value and meet the other conditions.
How long do I need to hold the property to keep my Golden Visa?
You must retain ownership of the property for at least two years to maintain eligibility for the Golden Visa. This ensures that the investment is long-term.
Is there a specific age requirement for the UAE Golden Visa?
There is no specific age requirement for the UAE Golden Visa. However, applicants must meet the investment criteria of AED 2 million in property to qualify.
Conclusion:
The UAE Golden Visa provides an incredible opportunity for those looking to live, work, and invest in the UAE. By purchasing property worth at least AED 2 million, you can qualify for this long-term residency visa, which offers not only security but also flexibility for you and your family.
By following the steps outlined in this guide, you can successfully navigate the process of obtaining a Golden Visa through property investment and enjoy the many benefits it has to offer.
